STP

What You’ll Be Getting

Single Touch Payroll

Single Touch Payroll (STP) is a new way for employers to report payroll information to the Australian Taxation Office (ATO). STP streamlines the reporting process and makes it easier for employers to stay compliant.

The benefits of using STP include:

• Reduced reporting burden

• Improved accuracy of reporting

• Faster access to employee payment information

• Increased compliance with government regulations

The requirements for using STP include:

• Using STP-enabled payroll software

• Reporting payroll information each time you pay your employees

• Providing your employees with a payslip each pay period

Island Financial Services can help you set up and implement STP. We have a team of experienced accountants and payroll specialists who can help you understand the requirements of STP and make sure that you are compliant.

To learn more about how Island Financial Services can help you with Single Touch Payroll, please contact us today.